Regina, Saskatchewan--(Newsfile Corp. - June 22, 2026) - GEM OIL INC. is pleased to provide an update on its flagship Hanson Lake Project, a massive 26,318-hectare copper-gold exploration property strategically positioned in the heart of Saskatchewan's emerging base metal district. The project hosts an impressive portfolio of high-priority drill-ready electromagnetic targets identified through more than 5,000 line-kilometres of modern airborne geophysical surveying. Situated immediately east of Foran Mining's McIlvenna Bay Deposit and along the same highly prospective geological trend, Hanson Lake represents one of the largest and most compelling underexplored VMS exploration opportunities in the district, with multiple targets capable of hosting significant copper-rich sulphide mineralization.

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Recent drill core sampling from the Hanson Lake Project returned assay values of up to 1.145% copper, accompanied by elevated sulphur values reaching 5.73%. These results confirm the presence of copper-bearing sulphide mineralization within the drill-tested horizon and indicate a robust mineralizing system. The assays form part of a broader mineralized trend identified on the property and are considered highly encouraging given the project's location within the prolific Flin Flon-Snow Lake Greenstone Belt, one of Canada's premier volcanogenic massive sulphide (VMS) districts.

Management notes that while these results should not be directly compared to the resource-grade drill intercepts reported from established deposits such as McIlvenna Bay, they nevertheless demonstrate the presence of a fertile mineralizing system capable of hosting copper-rich sulphide mineralization. The Company's technical team believes these assays provide further support for continued exploration and follow-up drilling on priority targets identified through previous geophysical surveys and field programs.

"The significance of these results is not simply the copper grade itself, but what it tells us about the geological system," stated Shaun Spelliscy, President of GEM OIL INC. "Finding copper-bearing sulphides in this environment, immediately adjacent to one of Saskatchewan's most important emerging base metal camps, reinforces our belief that the Hanson Lake Project possesses considerable discovery potential. These results represent another positive step in our ongoing evaluation of the property."

GEM cautions sample results are preliminary in nature and may not be representative of mineralization over broader areas. Additional drilling, sampling and geological evaluation will be required to determine the extent, continuity and economic significance of the mineralization identified to date.

Management believes these results further validate the Company's exploration model and support continued drilling and follow-up work on numerous high-priority targets identified through previous geophysical surveys and field programs. The Company remains highly encouraged by the scale of the opportunity and looks forward to advancing the project aggressively.

Nevertheless, the message is clear: Hanson Lake continues to deliver encouraging results, and GEM believes the project has the potential to become a very important exploration story in one of Canada's premier mining jurisdictions.

This marks GEM's first drilling campaign in the Hanson Lake area, but it certainly will not be our last. We would like to take this opportunity to thank our contractors for their outstanding contributions to this inaugural exploration program.

All drill targets were selected by Stephen Balch, P.Geo., and GEM wishes to acknowledge and thank Mr. Balch for his continued technical guidance, expertise and invaluable support throughout the field program.

Special thanks are also extended to Quesnel Bros. Diamond Drilling Ltd., Echo Helicopters, and Tuzo GeoSurveys Corp. Their professionalism, expertise, and unwavering commitment to safety enabled the program to be completed efficiently, safely and seamlessly.

For More Information, Please Contact:

Shaun Spelliscy
President and Managing Director

G E M O I L
Box 1111
Regina
Saskatchewan
S4P 3B2

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302325

Source: Gem Oil Inc.